A startup’s way to the market


Being a entrepreneur living and running a health tech startup in Iceland can be challenging. Don‘t get me wrong, when it comes to technology or developing a product Iceland is one of the best places. The real struggle starts when you need to internationalize your product. I am sure that there are various ways to do so but here is my story.

Just recently me and my team finished writing up a grant application for a phase 2 grant at the European Commission. We did partner up with a 3rd party to assist us in the process and I can‘t praise the team from Inspiralia enough. A prolific team of writers and specialists in various fields they come highly recommended. The EC is pretty demanding on the content any applicant needs to pertray. Amongst are so called letters of support from the market. Our target markets included USA, United Kingdom, Germany, France, Spain, India and China. This means finding someone in those countries, introduce your company and your products and convince them to write a letter stating that your products would work in their markets. I have to admit I felt small in this world of ours, a CEO of a startup in Iceland (population of 330K) finding someone in China or India to write such letters.

One of the things I have in my DNA is to never give up and go find what I need. It took me a while to find the correct door to open but when I did, things started to line up. So for our application I got letters of support from these individuals (see below):

David G. Armstrong – USA | Link to file

Professor of surgery and Director

Andrew JM Boulton – UK | Link to file

  •  President-Elect, International Diabetes Federation, December 2017
  • Chairman, European Alliance for Diabetes Research (EURADIA), February 2017
  •  He is the 2017 Banting Memorial Lecturer of Diabetes UK
  • Professor Boulton is immediate past-President of the EuropeanAssociation for the Study of Diabetes 2012-2016.
  • He is currently President of Worldwide Initiative for Diabetes Education and has strong links with American centres
  • He is currently Professor of Medicine (Diabetes) at the University of Manchester and Consultant Physician at the Manchester Royal Infirmary

Dr. Wijay Wiswanathan – India | Link to file

Head of Diabetes Research Center Chennai

Dr. Javier Aragón Sánchez – Spain | Link to file

MD at Unidad Pie Diabetico

Dr. Wuquan Deng – China | Link to file

Head of SALSA

We do also have a similar support letter from our very own Rafn Benediktsson who is the Head of diabetology at the National hospital here in Iceland. These letters of support give us, who want to help people live their lives healthier and happier, a big boost. It‘s not just us playing with technology but it confirms that we are on to something special and we can‘t wait to start saving lives.

Sigurjon Lydsson
CEO & Co founder